Cryptopia Account Holders Receive $400m From Liquidators

The liquidators of Cryptopia are pleased to announce a significant milestone in the ongoing liquidation process. Over the past two days, more than 10,000 verified account holders of Bitcoin and Dogecoin have received their first cryptocurrency distributions.

Within the last 48 hours, over $400 million NZD in cryptocurrency has been returned on-chain.

Since the launch of the Cryptopia claims portal four years ago, liquidators have been working to identify users so their assets could be returned in-specie and in line with Justice Gendall’s decision in March 2020. This complex process also involved rebuilding the hacked cryptocurrency exchange and reconciling millions of transactions from nearly 960,000 users.

Following this first distribution, liquidators will continue to follow the approved process. This includes giving notice of cut-off dates before distributing the remaining Bitcoin, Dogecoin and all other cryptocurrencies of sufficient value to account holders.

There may be an additional top-up distribution to account holders, allowing them to receive up to 100% of their holdings using “unclaimed holdings”, from those account holders who have not registered in the claims portal after the cut-off dates. The liquidators will give account holders notice of the soft cut-off date in the coming days.

The liquidators encourage all remaining account holders to register on the claims portal and complete the necessary steps to become eligible for future distributions. Further distributions for newly verified users are planned for the New Year.

The liquidators would also like to thank all account holders for their continued patience and cooperation as they work to return assets to all eligible account holders.

As this is an ongoing process, the liquidators are unavailable to make any further comments at this time.

For further information, please visit: grantthornton.co.nz/cryptopia-limited

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